NELLES: Another Biden-Era Recession Looms in 2023. The Question Is: ‘How Long, and How Painful?’

Low unemployment, moderating inflation, a teetering housing market, and unprecedented household debt all combine to drive economists to tarot cards, animal sacrifice, and Ouija boards to make their next predictions. Deconstructing and reconstructing the issues help gain an understanding of where the economy will go in 2023. Unemployment. Per the Bureau of Labor Statistics, the unemployment rate fell to 3.5 percent in December 2022 – almost full employment.  The layoffs are starting, however, driven by tech companies. Alphabet (Google), Microsoft, Amazon, Salesforce, and Vimeo have announced a combined layoff of nearly 50,000 employees. Strong unemployment numbers drove television pundits to